AARP life insurance rates depend on your age, health history, and the type of coverage you choose

AARP offers life insurance through partner companies, not as a direct insurer. The rates you see advertised are starting points — your actual cost depends on your age when you explore, any health conditions you report, and whether you choose term life (coverage for a set number of years) or permanent life (coverage for your whole life). AARP members typically receive discounted rates compared to non-members buying the same policy from the same carrier.

You cannot get a quote without providing your birth date and some health information. AARP's website lets you enter basic details and see estimated monthly costs, but the final rate comes only after underwriting — a process where the insurance company reviews your medical history, sometimes orders a medical exam, and decides whether to approve you and at what price.

Permanent life insurance (whole life and universal life) costs significantly more per month than term life, but it does not expire. Term life is cheaper but ends after 10, 20, or 30 years. Most people under 80 find term life more affordable; permanent life appeals to those who want coverage they cannot outlive or who want a death benefit to cover estate taxes.

Key Takeaways

  • AARP life insurance is underwritten by partner companies like New York Life and Transamerica, not by AARP itself, so rates and approval depend on the carrier's underwriting standards.
  • Your rate is based on your age at process, health history, and the type of policy — term life costs less per month but expires, while permanent life costs more but lasts your lifetime.
  • You can see estimated costs on AARP's website by entering your age and basic health information, but your actual rate requires medical underwriting and may take two to four weeks.
  • AARP members receive member discounts on premiums, typically 5 to 15 percent off the standard rate for the same policy.
  • If you are denied coverage or quoted a rate you consider too high, you can shop other carriers — AARP rates are not the only option for people over 50.

How AARP sets rates and what affects your monthly cost

AARP does not set rates itself. Instead, it has partnerships with insurance carriers — primarily New York Life, Transamerica, and Physicians Mutual — who underwrite and price the policies. When you request a quote through AARP, you are getting that carrier's rate, discounted by the AARP member discount if you belong to AARP.

The main factors that determine your rate are age, gender, health history, tobacco use, and the amount of coverage you want. A 60-year-old non-smoker in good health will pay far less than a 75-year-old with heart disease or diabetes. Some carriers offer simplified underwriting for people under 75 with no major health issues — you answer health questions but skip the medical exam, which speeds approval to one to two weeks. Others require a full exam regardless of age.

The AARP member discount typically ranges from 5 to 15 percent off the standard rate. This discount applies only if you are an AARP member at the time you explore. If you let your membership lapse, you do not automatically lose the discount on an existing policy, but you cannot renew at the member rate if the policy ends.

Term life versus permanent life: which costs less and lasts longer

Term life insurance covers you for a fixed period — usually 10, 20, or 30 years. If you die during that term, your beneficiary receives the death benefit. If the term ends and you are still alive, the coverage stops and you receive nothing. Term life is the cheapest option per month because the insurance company knows the coverage will eventually end.

A 65-year-old buying a 20-year term policy through AARP might pay $30 to $60 per month for $250,000 in coverage, depending on health and the carrier. The same person buying permanent life could pay $150 to $300 per month for the same amount of coverage. Term life makes sense if you want to cover a specific debt (like a mortgage) or may support your family has income replacement while children are young.

Permanent life insurance — which includes whole life and universal life — lasts your entire life as long as you pay premiums. Part of your premium goes toward the death benefit; the rest builds cash value that you can borrow against or withdraw. Permanent life is more expensive but never expires, and the cash value grows tax-deferred. It appeals to people who want a may provide death benefit regardless of how long they live, or who want to leave a larger inheritance.

AARP also offers final expense insurance, a type of permanent life with a smaller death benefit (usually $5,000 to $25,000) designed to cover funeral and burial costs. Premiums are lower because the benefit is smaller, and underwriting is often simplified — some policies require no medical exam at all.

The underwriting process and how long approval takes

After you request a quote and provide basic information, AARP forwards your process to the carrier. The carrier then reviews your health history and decides whether to approve you, deny you, or approve you at a higher rate. This process is called underwriting.

For simplified underwriting (available to younger applicants or those in excellent health), you answer health questions on the process but do not need a medical exam. Approval typically takes one to two weeks. For full underwriting, the carrier orders a medical exam — usually a nurse visits your home to take blood pressure, height, weight, and blood samples. Full underwriting can take three to four weeks.

If you are approved, your first premium is due before coverage begins. You can pay monthly, quarterly, or annually. If you are denied, the carrier must tell you why. You can then explore with a different carrier or wait six months to a year and reapply if your health has improved.

Some people are approved at a higher rate than the initial quote because underwriting reveals health issues not disclosed in the process. You can accept the higher rate, ask the carrier to reconsider, or decline and explore elsewhere.

AARP member discounts and how to compare rates with other carriers

AARP members receive a discount on premiums — typically 5 to 15 percent off the standard rate. The exact discount varies by carrier and policy type. To see the member discount, you must be logged into your AARP account when you request a quote. Non-members can also buy AARP-branded policies, but they pay the full rate without the discount.

The AARP discount is real, but it is not automatically the best rate available. Other carriers — like Banner Life, Protective Life, and Mutual of Omaha — also offer life insurance to people over 50 and may quote lower rates depending on your age and health. The only way to know is to get quotes from multiple carriers.

When comparing quotes, make sure you are comparing the same thing: same death benefit amount, same policy type (term or permanent), same term length (if term), and same underwriting type (simplified or full). A quote for $250,000 in 20-year term with simplified underwriting is not comparable to a quote for $500,000 in permanent life with full underwriting.

You can request quotes from other carriers directly through their websites or by phone. There is no cost to get a quote, and getting multiple quotes does not affect your credit score or lock you into anything.

Health conditions and how they affect your rate or approval

Common health conditions that increase your rate or may lead to denial include heart disease, diabetes, cancer, stroke, chronic obstructive pulmonary disease (COPD), and kidney disease. The carrier's underwriting guidelines determine how each condition is treated. Some carriers are more lenient with certain conditions; others are stricter.

If you have a health condition, be honest on your process. Lying about your health is called misrepresentation, and if the carrier discovers it after you die, they can deny the claim to your beneficiary. The underwriting process is designed to uncover inconsistencies — the carrier will request medical records and compare them to what you reported.

If you are denied by one carrier, you may be approved by another. Carriers have different underwriting standards. Some specialize in insuring people with health issues; others focus on younger, healthier applicants. If you are denied, ask the carrier why and consider explore with a different carrier that may have more lenient guidelines for your condition.

When AARP life insurance makes sense and when it does not

AARP life insurance is worth considering if you are over 50, have been denied coverage elsewhere, or want a straightforward process process without extensive medical exams. The member discount is real, and the underwriting is straightforward.

AARP life insurance may not be the best choice if you are under 60 and in excellent health — you might find cheaper rates from carriers that specialize in younger applicants. It also may not be right if you need a very large death benefit (over $500,000), because AARP policies typically max out at $250,000 to $500,000 depending on age and health.

If you have been denied by AARP or quoted a rate you consider too high, do not assume you cannot get coverage. Other carriers have different underwriting standards. You can also wait six months to a year and reapply if your health has improved or if you have addressed a condition that led to denial.

Frequently Asked Questions

Do I have to be an AARP member to buy AARP life insurance?

No, but you will pay more. Non-members can buy AARP-branded policies, but they do not receive the member discount. If you are not a member, it is usually cheaper to get a quote from another carrier instead.

What happens to my AARP life insurance if I cancel my AARP membership?

Your policy continues. You do not lose coverage because you stopped being an AARP member. However, if your policy ends and you want to renew, you will not may have access to for the member discount unless you rejoin AARP.

Can I get AARP life insurance if I have been denied by other carriers?

Possibly. AARP carriers have different underwriting standards than other companies. If you were denied elsewhere, request a quote from AARP and be honest about your health history. Some people approved by AARP are denied by other carriers, and vice versa.

How much life insurance do I actually need?

That depends on your situation. A common rule is to cover five to ten times your annual income, plus any debts you want to leave paid off. If you have no dependents and own your home, you might need only enough to cover funeral costs — $10,000 to $15,000. AARP can help you estimate, but a financial advisor can give you a more detailed recommendation.

Can I change my policy after it is approved?

It depends on the policy type. Most term policies cannot be changed — you are locked into the term length and death benefit. Some permanent policies let you increase or decrease the death benefit or change the premium payment schedule, but changes usually require new underwriting and may result in a higher rate.